The benchmark Land price system and urban Land use efficiency in china

摘要

China began to introduce market principles and establish price mechanism to better mange land and im- prove land use efficiency in the late 1980s. Since then, land markets begin to emerge. A benchmark land price system, providing guidelines for land use rights selling and transferring, was established in order to overcome lack of market data and experiences in land transaction. The benchmark prices of land use rights are determined by land use, land use densi- ty (floor-land ratio), land grades, land improvement, and tenant resettlement costs. This paper first conducts a formal analysis based on modern urban economic theory.